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Adding Latin America to the Global Projection Model1

Adding Latin America to the Global Projection Model1 »

Source: Adding Latin America to the Global Projection Model

Volume/Issue: 2009/85

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 April 2009

ISBN: 9781451872323

Keywords: Macroeconomic Modeling, Bayesian Estimation, inflation, equation, forecasting, real interest rate,

This is the fourth of a series of papers that are being written as part of a larger project to estimate a small quarterly Global Projection Model (GPM). The GPM project is designed to improve the toolkit to which e...

Bilateral Financial Linkages and Global Imbalances

Bilateral Financial Linkages and Global Imbalances »

Source: Bilateral Financial Linkages and Global Imbalances : a View on The Eve of the Financial Crisis

Volume/Issue: 2010/257

Series: IMF Working Papers

Author(s): Gian Milesi-Ferretti , Natalia Tamirisa , and Francesco Strobbe

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2010

ISBN: 9781455209576

Keywords: International financial integration, claims, fdi, portfolio investment, foreign exchange reserves,

We present a novel and comprehensive dataset of bilateral gross and net external positions in various financial instruments for the main advanced and emerging economies and regions, designed to improve our understa...

Currency Risk Premia in Global Stock Markets

Currency Risk Premia in Global Stock Markets »

Source: Currency Risk Premia in Global Stock Markets

Volume/Issue: 2006/194

Series: IMF Working Papers

Author(s): Matthew Merritt , and Shaun Roache

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2006

ISBN: 9781451864540

Keywords: Arbitrage pricing theory, risk prices, asset pricing, exchange rate, currency risk, exchange risk, foreign exchange risk, International Finance Forecasting and Simulation,

Large fundamental imbalances persist in the global economy, with potential exchange rate implications. This paper assesses whether exchange rate risk is priced across G-7 stock markets. Given the multitude of hedgi...

Exploring the Dynamics of Global Liquidity

Exploring the Dynamics of Global Liquidity »

Source: Exploring the Dynamics of Global Liquidity

Volume/Issue: 2012/246

Series: IMF Working Papers

Author(s): Sally Chen , Philip Liu , Andrea Maechler , Chris Marsh , Sergejs Saksonovs , and Hyun Shin

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 11 October 2012

ISBN: 9781475512793

Keywords: core and noncore financial liabilities, growth, global liquidity, external liabilities, global financial crisis, global financial stability, central bank, Models with Panel Data, Government Policy and Regulation,

This paper explores the concept of global liquidity, its measurement and macro-financial importance. We construct two sets of indicators for global liquidity: a quantity series distinguishing between core and nonco...

Fundamental Determinants of Inequality and the Role of Government1

Fundamental Determinants of Inequality and the Role of Government1 »

Source: Fundamental Determinants of Inequality and the Role of Government

Volume/Issue: 1998/178

Series: IMF Working Papers

Author(s): Vito Tanzi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1998

ISBN: 9781451858921

Keywords: Inequality, Social Norms, Role of Governments, Positional Rents, Social Capital, human capital, income distribution, trade theory

This paper discusses the fundamental determinants of inequality. These are identified as world or market forces, social norms, ownership of real and human capital, and the role of government. The change in the rela...

Global Bonding

Global Bonding »

Source: Global Bonding : Do U.S. Bond and Equity Spillovers Dominate Global Financial Markets?

Volume/Issue: 2012/298

Series: IMF Working Papers

Author(s): Tamim Bayoumi , and Trung Bui

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 20 December 2012

ISBN: 9781475586633

Keywords: Identification, international financial linkages, bond, equity markets, bond yields, financial markets, Estimation, Time-Series Models, General,

This paper uses a novel variant of identification through hetroscedacity to estimate spillovers across U.S., Euro area, Japanese, and UK government bond and equity markets in a vector autoregression. The results su...

Global Business Cycles

Global Business Cycles »

Source: Global Business Cycles : Convergence or Decoupling?

Volume/Issue: 2008/143

Series: IMF Working Papers

Author(s): Ayhan Kose , Eswar Prasad , and Christopher Otrok

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 2008

ISBN: 9781451870015

Keywords: macroeconomic fluctuations, convergence, decoupling, business cycle, globalization period, business cycle fluctuations,

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets,...

Global Housing Cycles

Global Housing Cycles »

Source: Global Housing Cycles

Volume/Issue: 2012/217

Series: IMF Working Papers

Author(s): Deniz Igan , and Prakash Loungani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2012

ISBN: 9781475505672

Keywords: Housing Cycles, Mortgage Markets, mortgage, real estate, housing markets, housing finance, foreclosure, Financial Markets and the Macroeconomy, Macroeconomic Aspects of International Trade and Finance: General,

Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in...

Global Imbalances

Global Imbalances »

Source: Global Imbalances : The Role of Non-Tradabletotal Factor Productivity in Advanced Economies

Volume/Issue: 2009/63

Series: IMF Working Papers

Author(s): Alessandro Rebucci , Nicoletta Batini , Pietro Cova , and Massimiliano Pisani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2009

ISBN: 9781451872101

Keywords: trade deficit, non-tradable sector, GEM, tfp, tradable goods, elasticity of substitution, intermediate goods, terms of trade,

This paper investigates the role played by total factor productivity (TFP) in the tradable and nontradable sectors of the United States, the euro area, and Japan in the emergence and evolution of today's global tra...

Global Liquidity and Asset Prices

Global Liquidity and Asset Prices »

Source: Global Liquidity and Asset Prices : Measurement, Implications, and Spillovers

Volume/Issue: 1999/168

Series: IMF Working Papers

Author(s): Klaas Baks , and Charles Kramer

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 1999

ISBN: 9781451858242

Keywords: Liquidity, money growth, international spillovers, monetary policy, real interest rates, monetary aggregates

Much recent commentary suggests that global liquidity has influenced financial conditions in the major international markets to an important degree, and that excess liquidity in one financial center can influence f...